![Oil and EU NatGas extreme volatility but bullish [Video]](https://editorial.fxsstatic.com/images/i/Commodities_Gas-2_XtraLarge.jpg)
S&P 500 bigger picture, long-term rising trend. Dollar Index bullish. Swiss Franc strength. Metals crawling back? Oil and EU NatGas extreme volatility but bullish. Interest rates higher.
Author
Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
EUR/USD fails to preserve its recovery momentum after rising toward 1.1650 earlier in the day and tests 1.1600. The risk-averse market atmosphere amid the widening conflict in the Middle East and the broad-based US Dollar strength make it difficult for the pair to hold its ground.
GBP/USD stays in negative territory near 1.3350 in the second half of the day Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh safe-haven demand, weighing on the pair.
Gold turns south in the American session on Thursday and declines toward $5,100. The persistent US Dollar (USD) strength doesn't allow XAU/USD to gather recovery momentum despite markets remain risks-averse due to the deepening conflict in the Middle East.
The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.
There’s been an abrupt change in sentiment this morning, European stock markets are higher and oil and gas prices are moderating, after comments from Iran’s deputy minister about pre-conflict talks between Iran and the US.
Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.
